So nearly Debt free.

peteuk

I am so close to becoming debt free, I can almost taste it....

We are going to bit the bullet and pay off a few of our smaller, outstanding debts. Which with our other monthly outgoings will take my wage. We will be living on OH wage for September!

I will be left with
3 X Credit Cards - payments up to date and balance less than £500
2 X Car loans - Payments up to date and one with less than 10 months to go.
2 X Loan (from original DMP)

In total to date we have paid off £48K in debts since 2005...

Once the two DMP loans are paid I will count myself as Debt free! By then we will have paid over £50K...

My message to everyone is have your light bulb moment, it is difficult but it is achievable.

PeacefulSlumber

Congratulations Pete, well done on paying off such a huge amount, it's a wonderful achievement!

I have also paid off over 50k and have been debt free for over 18 months now, I've totally changed my outlook on spending and enjoy living as frugally as possible now which is funny because with substantial savings in the bank i don't really want anything enough to spend the cash anymore.

Being debt free is liberating and life changing and so worth the effort, keep going and it'll soon be a reality!

Good luck x

uncreative

Excellent work - just think you will soon be debt free and your learned behaviour now will ensure you continue to save. You must be over the moon.:T

daisymac

Thank you for sharing this it inspires me to stick in and clear ours so we can live a lower stress lifestyle without debts hanging over us.

MummyMoo

:T Massive well done :T

I struggled for years with massive debts as a product of being very unwell with bipolar disorder and even after claiming bankruptcy I was still in a financial mess. Now I finally have savings!!!! I get more of a buzz from transferring even a pence saving into my ISA than I did spending thousands on nothingness.

Keep going, it's so worth it!!!!

Ellieseleven

Well done Pete! We're into the final third now and having that lightbulb moment has changed our lives. There have been ups and downs along the way but it will be worth it;)

katy_ann

Wow Pete that's an incredible story and what a journey! You should be very proud of yourself!

lazer-zxr

Im 45k in debt .... thanks for the inspiration Pete and PeacefulSlumber, it's going to be a long journey.

boring1

Isn't it a lovely feeling! I have approx 5 more payments on my DMP and I too will have paid off over £55k worth of debt - started in 2009. I am just letting myself start to believe it is really going to happen!

peteuk

lazer-zxr wrote: »

Im 45k in debt .... thanks for the inspiration Pete and PeacefulSlumber, it's going to be a long journey.

Taking the fist step is everything, sorting out it out and putting a plan into action is important, but sticking to it is also difficult.

Long Journey it may be, it wont be plain sailing all the way, but once you get there it's worth it.

Good luck with everything.

Mort

peteuk wrote: »

Taking the first step is everything, sorting out it out and putting a plan into action is important, but sticking to it is also difficult.

Long Journey it may be, it wont be plain sailing all the way, but once you get there it's worth it.

Wise words